Equiteq advises Kerv on its acquisition of cloudThing
Equiteq is pleased to announce that it has advised Kerv, the leading Cloud-Centric Managed Service and Infrastructure Transformation Provider, on its acquisition of cloudThing, a market leader in digital transformation and specialist in Microsoft Dynamics & Power Platform, plus Bespoke Software Development.
Kerv is the leading Cloud-Centric Managed Service and Infrastructure Transformation provider. It was formed in July 2020 as a £30 million merger of three cloud-centric transformation companies: DoubleEdge Professionals Services, Foehn, and Metaphor IT. Kerv’s mission is to build the next-generation, cloud-centric operating platform that focuses on the provision of IT Managed Services, DevOps, digital transformation and cybersecurity.
cloudThing, founded in 2012, is one of the fastest-growing tech companies in the UK according to the Sunday Times Tech Track 100 and focuses its core technology services in four areas: Microsoft Dynamics & Power Platform, Bespoke Software Development, Data Science and DevSecOps. cloudThing are a Microsoft Gold Partner, holding 7 Microsoft Gold accreditations. The business employs around 220 staff, with headquarters in Birmingham, UK, and an office operating the software engineering function in Bangalore, India.
The new partnership is a step to accelerate Kerv into the rapidly growing digital transformation market, combining their existing cloud managed services and infrastructure transformation capabilities with cloudThing’s market-leading digital transformation capabilities, combining DevOps, Data Science and software engineering services.
Regarding Equiteq’s role in the transaction, Alastair Mills, Executive Chairman at Kerv said: “We approached Equiteq, as a proven advisor and partner, with deep knowledge and experience in the consulting and digital transformation space. The team had a clear understanding of our desired outcomes from the start and provided excellent guidance at every step of the transaction. We couldn’t have asked for a better outcome.”
Nick Jones, Managing Director, Head of Europe and Global Head of M&A at Equiteq said: “We’re delighted to have advised Kerv on this transaction and we’re very excited by the outcome. The demand for high-quality digital transformation partners is more evident today than it has ever been and cloudThing are one such partner. Kerv, backed by private equity, will continue to seek value in this high growth segment with further investment and an exciting future for Kerv and cloudThing.”